UK housing market is past its ‘peak pain’, declares Savills

Upmarket estate agent says prices will start to bottom out in 2024 as interest rates fall and will return to growth in 2025

Britain's housing market is past peak pain" and prices look likely to bottom out by next summer, according to the estate agency Savills.

The average UK house price is projected to fall by 3% in 2024, after a 4% drop this year, the upmarket estate agent and property advisory firm said in its five-year outlook.